BEIJING, Sept. 13, 2016 /PRNewswire/ -- Boeing (NYSE: BA),
China's leading provider of
commercial airplanes, projects a demand for 6,810 new airplanes in
the country over the next 20 years. Boeing released its annual
China Current Market Outlook (CMO) today in Beijing, estimating the total value of those
new airplanes at $1.025 trillion.
China becomes the first trillion
dollar aviation market in Boeing's forecast.
"As China transitions to a more consumer-based economy, aviation
will play a key role in its economic development," said
Randy Tinseth, vice president of
Marketing, Boeing Commercial Airplanes. "Because travel and
transportation are key services, we expect to see passenger traffic
grow 6.4 percent annually in China
over the next 20 years."
Boeing predicts China will need
5,110 new single-aisle airplanes through 2035, accounting for 75
percent of the total new deliveries. Low-cost carriers and
full-service airlines have been adding airplanes and expanding new
point-to-point services to cater for both leisure and business
travel demand from a rising middle class in China and throughout Asia.
Tinseth said the backlog from Chinese customers demonstrates
that the new 737 MAX 8 and the current Next-Generation 737-800 are
at the heart of the single-aisle market.
Boeing forecasts the widebody fleet will triple in size,
requiring 1,560 new airplanes such as the 787, 777 and 777X.
This year's forecast reflects a continued shift from very large
airplanes to efficient new small and medium widebody airplanes.
China's single-aisle fleet
currently accounts for about 18 percent of global single-aisle
aircraft; however, China's
widebody fleet only represents approximately 5 percent of the
global widebody segment.
"The continuing expansion of China's middle class, coupled with new visa
policies and a wide range of widebody airplanes with new
technologies, capabilities and efficiencies, gives us every reason
to expect a very bright future for China's long-haul market," said Tinseth.
Driven by China's growing
e-commerce business – already the largest in the world – air cargo
is expected to become a key driver for the continuous growth of
aviation in China, with the need
for 180 new freighters and 410 converted freighters.
New Airplane China
Deliveries Through 2035
|
|
Airplane
type
|
Seats
|
Total
deliveries
|
Dollar
value
|
Regional
jets
|
90 and
below
|
140
|
$10B
|
Single-aisle
|
90-230
|
5,110
|
$535B
|
Small
wide-body
|
200-300
|
870
|
$240B
|
Medium
wide-body
|
300-400
|
630
|
$220B
|
Large
wide-body
|
400 and
above
|
60
|
$20B
|
Total
|
-----------
|
6,810 (17% of
world total)
|
$1.025T (17% of
world total)
|
Worldwide, Boeing projects investments of $5.9 trillion for 39,620 new commercial airplanes
to be delivered during the next 20 years. The complete
forecast is available at www.boeing.com/cmo.
Today, Boeing jets are the mainstay of China's air travel and cargo system. More than
50 percent of all the commercial jetliners operating in
China are Boeing airplanes.
Meanwhile, China has a
component role on every current Boeing commercial airplane model –
the Next-Generation 737, 747, 767, 777, as well as the world's most
technologically advanced airplane, the 787 Dreamliner. Over 9,000
Boeing airplanes fly throughout the world with integrated
China-built parts and
assemblies.
Contact:
Yukui Wang
Boeing China Communications
+86 10 5925 5505
yukui.wang@boeing.com
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SOURCE Boeing